The redemption is a routine capital optimization move by a large European bank. Monitor for any subsequent replacement issuance or changes in Santander's capital structure, but no immediate trading catalyst for the common stock.
Price Chart
Executive Summary
Banco Santander is redeeming all outstanding Series 10 4.750% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities (CUSIP: 05971KAH2) with an aggregate liquidation preference of $298,400,000. The redemption will occur on November 12, 2026, at par plus accrued distributions, and is a routine capital management action that does not signal any material change in the bank's financial condition.
Key Facts
- Banco Santander is redeeming all $298,400,000 aggregate liquidation preference of its Series 10 4.750% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities.
- Redemption date is November 12, 2026, with notice given on October 14, 2026.
- Redemption price is $200,000 per Note plus accrued but unpaid distributions to (but excluding) the redemption date.
- The redemption is optional under Section 12.11 of the Indenture and covers all outstanding Notes of this series.
Financial Impact
The issuer will pay $298,400,000 in cash to redeem all outstanding Notes, eliminating the associated perpetual preferred Tier 1 securities and their 4.750% distribution obligation.
Risk Factors
- No material risks identified; this is a standard optional redemption of a preferred security.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0000950103-26-015568 |
| Document: 0000950103-26-015568-index-headers.html | 0000950103-26-015568 |
| Document: 0000950103-26-015568-index.html | 0000950103-26-015568 |
| Document: 0000950103-26-015568.txt | 0000950103-26-015568 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 6-K | $12.90 | awaiting T+20 | — | $12.37 (−4.11%) |
Oct 21, 2026 5d ago | 6-K | $13.29 | awaiting T+20 | — | $12.37 (−6.92%) |
Oct 15, 2026 11d ago | 6-K | $13.46 | awaiting T+20 | — | $12.37 (−8.10%) |
Oct 15, 2026 11d ago | 6-K | $13.46 | awaiting T+20 | — | $12.37 (−8.10%) |
Oct 15, 2026 11d ago | 6-K | $13.46 | awaiting T+20 | — | $12.37 (−8.10%) |
Oct 14, 2026 12d ago | 6-K | $13.41 | awaiting T+20 | — | $12.37 (−7.76%) |
Oct 14, 2026 12d ago | 6-K | $13.41 | awaiting T+20 | — | $12.37 (−7.76%) |
Oct 8, 2026 18d ago | 6-K | $13.48 | awaiting T+20 | — | $12.37 (−8.23%) |
Oct 1, 2026 25d ago | 6-K | $13.28 | awaiting T+20 | — | $12.37 (−6.85%) |
Sep 29, 2026 27d ago | 6-K | $14.19 | awaiting T+20 | — | $12.37 (−12.83%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers